MEDINA, Ohio — Since it was a team effort that led to the City of Medina receiving a rebate from its insurance company, city officials have decided that city employees should also reap the rewards.
Council recently approved legislation to disperse a credit from Medical Mutual of Ohio pertaining to the 2023 contingent premium refund.
“The city tried to drive down insurance premium renewal fees and we did that successfully,” Mayor Dennis Hanwell said.
“But Medical Mutual gave us another option to get a rebate of up to 5 percent if our claim filings vs. premiums paid stayed within a certain percentage level during 2023.”
Hanwell explained that through the city’s wellness program, as well as the participation of city employees, the city was able to stay within those percentage levels and will receive a $146,000 credit from Medical Mutual.
“Since this was a shared effort of the city and the employees, we think the employees should be rewarded,” Hanwell said.
Hanwell said half of the rebate will go to assist with premium reductions for employees and the other half will be used to reduce the city’s share of premium costs.
In other news, the city has announced that there will be a single lane closure of Weymouth Road from Bowman Lane to East Reagan Parkway through Nov. 15.
The closure is due to tree-clearing work for Columbia Gas so that they will have clear access to their pipelines.
Northbound and southbound traffic along Weymouth Road will be maintained in both directions via portable traffic signals or flaggers.
Local access for all properties within the closure limits will be maintained at all times.
Read more from the Medina Sun.
Clinton Mora is a reporter for Trending Insurance News. He has previously worked for the Forbes. As a contributor to Trending Insurance News, Clinton covers emerging a wide range of property and casualty insurance related stories.